November, 2022

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Attracting More Appraisal Business

Cleveland Appraisal Blog

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. I have seen a slowdown in my lending work also. So what can we do? Half my work is non-lending work, and that’s been a blessing.

Business 386
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Saying goodbye to pandemic home price gains

Sacramento Appraisal Blog

Sellers have been saying goodbye to some of the equity they gained during the past couple of years. In Sacramento, we’ve actually lost 40% of the pandemic gains since May. Today I want to talk about price trends, and I hope this is helpful – whether you’re local or not.

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Can we still avoid a recession?

Housing Wire

Economic reports over the Thanksgiving holiday paint a complicated picture of what’s happening, and where we are on recession watch. The big economic surprise was the strength of Black Friday sales, where consumers spent a record $9.12 billion online.

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Six Essential Steps to Commercial Real Estate Success

Cleveland Appraisal Blog

Are you interested in getting into the world of commercial real estate? This week I welcome back guest blogger June Duncan, who shares some things to think about if this is an area that you are interested in pursuing. Enjoy! Image by Unsplash.

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Preparing For The Unexpected

The Appraiser Coach

I’ve been known to talk a lot about preparing for the unpredictable. A while back someone asked me a question about it. In essence their question was, “Dustin, how can. Read More.

Appraisal 195
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Excess of Appraisers? Education

George Dell

The current excess of appraisers is the inevitable result of cyclical forces. The ups and downs persist due to the interaction of the five forces of friction: practices, standards, education, regulation, and client expectation. These five frictions reinforce and shield each other.

Appraisal 195

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Bringing up the housing market during Thanksgiving dinner

Sacramento Appraisal Blog

I don’t recommend talking about real estate during Thanksgiving dinner, but if you need some flavorful conversation, I’ve got you covered.

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Mortgage rates collapse on softer inflation data

Housing Wire

Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that!

Mortgage 537
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My Interview on Crosstown with Pat Kiernan - What can we do about NYC's housing crisis?

Miller Samuel

I'm a big fan of Pat Kiernan , the star anchor for Spectrum News NY1. I especially like his "in the papers" spots and I've been on his morning show a few times. He interviewed me virtually to set the stage to describe NYC's housing challenge. Check it out!

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The Language Barrier

The Appraiser Coach

Language is important. We often get so caught up in the moment, so laser-focused on how we feel about something, that we become casual in the verbiage that we use. Read More.

Business 370
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Is the Definition of Market Value Outdated?

George Dell

Editor’s Note: Is the Definition of Market Value Outdated? is a Guest Post from Bruce Hahn, SRA, MAI, CRE, CCIM. Why has the current definition of market value been around without change for so long? Many decades in fact!

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Building Materials Prices Decline for Second Consecutive Month

Eyes on Housing

The prices of building materials decreased 0.2% in October (not seasonally adjusted) following a 0.5% decline in September according to the latest Producer Price Index (PPI) report. The index has decreased four of five months for the first time since 2015.

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The housing market will figure it out

Sacramento Appraisal Blog

The housing market has really changed, and it’s not an easy time to work in real estate. I know people in all parts of the profession who are having a hard time and wondering how to make things work. So, I wanted to share some perspective to hopefully bring encouragement.

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Mortgage buy downs on the rise as builders try to entice more buyers

Housing Wire

Homebuilder confidence continued to drop in November, hitting its lowest level since June 2012, with the exception of the onset of the COVID-19 pandemic in the spring of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Wednesday.

Buyers 530
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The Intel About Intel’s Columbus, OH Region Move (and Why Your Business Can Flourish Here, Too)

The Robert Weiler Company

What’s so special about living landlocked in this part of the US?

Business 147
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Mr. Always Right

The Appraiser Coach

In the appraisal world, people ask you questions all the time. Some of those questions you can prepare for, and others come completely out of left field. In either scenario, Read More.

Appraisal 284
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Giving Thanks — Again!

George Dell

Giving Thanks. Oh Not Again! Gratitude! Each year I just get over the last one. Get over the fright of Halloween. Adjust to the unnecessary moving clocks back and forth one hour. And think about the pending spirit-oriented holidays as well as the iconic BIG deal — A new near!

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Gain for Custom Home Building

Eyes on Housing

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building expanded during the third quarter of 2022 despite broader market weakness. There were 59,000 total custom building starts during the third quarter of the year.

Design 187
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The housing market will get worse before it gets better

Sacramento Appraisal Blog

It’ll get worse before it gets better. That’s pretty much true in lots of ways in life. Going through the teenage years, recovering from injury, remodeling a kitchen… and enduring a housing downturn.

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Mortgage demand rose on the back of slower inflation growth

Housing Wire

Mortgage demand rose as rates dropped following the October slowdown in inflation growth numbers. However, while purchase mortgage applications increased across all loan types, refinance activity remained depressed.

Mortgage 525
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Housing Market: What Does It Look Like Where You Live?

Padove Appraisal Service

Residential markets in Philadelphia, PA and its surrounding suburbs tend to be more conservative. Our local market has seen its share of price increases over the past couple of years however, at a lower rate than other parts of the country.

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Starrex closes sale of appraisal business

Valuation Review

#StarrexInternational #closedtransaction #PropertyInterlink #ReliableValuationService #appraisalbusiness

Business 111
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Top DEI Bosses Have a Problem – Diversity

Appraiserblogs

The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions see as the enemy. If the lack of diversity of appraisers is inherently bad, how could the same not be said for the DEI bosses? A full 93 percent of U.S. birdwatchers are white.

Finance 111
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More Prospective Buyers Are Actively Searching for a Home

Eyes on Housing

Higher interest rates are pricing out some (not all) buyers, but also transforming remaining prospects into active buyers.

Buyers 188
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The housing market is feeling the pain of higher rates

Sacramento Appraisal Blog

The housing market is really starting to feel the pain of higher mortgage rates. Today I’d like to unpack some fresh October stats to show what I mean. I also have some thoughts about the spring season when prices are dropping. Whether you’re local or not, I hope this is helpful.

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Home equity loan vs. HELOC – What’s the difference?

Housing Wire

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity.

Marketing 513
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GoFormz Joins the Construction Executive Top Tech Firms List

GoForrmz

GoFormz was selected as a Top Tech Firm in the construction industry. Now in its 20th year of publication, Construction Executive is the leading trade magazine about the business of construction.

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Despite market slowdown, homeowner equity keeps growing

Valuation Review

#mortgagedresidentialproperties #equityrich #ATTOM

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Visualizing Market Activity Using Graphs & Trendlines

Appraiserblogs

Spreadsheets and graphs are powerful tools for appraisers. With proper data, and incorporated into reports, they can enhance your professionalism and decision-making ability.

Marketing 108
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Unsurprisingly, Housing Affordability Continues to Fall

Eyes on Housing

Rising mortgage rates, high inflation, ongoing building material supply chain disruptions, and elevated home prices contributed to housing affordability falling – yet again – to its lowest point since the Great Recession in the third quarter of 2022.

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FREE Webinar: The Appraisal Foundation 2022 Q4 Update

McKissock

On Wednesday, November 16, 2022, McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “The Appraisal Foundation 2022 Q4 Update.” Participate in this Q&A session with Lisa Desmarais, Vice President, Appraisal Issues with The Appraisal Foundation (TAF).

Appraisal 101
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Builders apply the brakes amid canceled contracts

Housing Wire

The best way to fight inflation is to add more supply, and when I look at the housing completion data for the past two years, it just makes me want to puke. In previous expansions, builders’ housing completion data would move in line with housing starts and permits.

Contracts 510
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Join us at GroundBreak 2022

GoForrmz

How to find GoFormz at GroundBreak 2022 We are so excited to be attending Groundbreak in New Orleans, this November 7-9, 2022! Before you gear up for the event, we want to help you find GoFormz this year. With 120+ vendors and sessions, planning is a must for a successful Groundbreak experience.

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The Realtor’s Guide to Appraisals Part 11: What Every Realtor Needs to Know About FHA Appraisals

Riverfront Appraisals

One of my favorite things to do is speak to Realtor offices about appraisals. And inevitably, no matter what topic I’m asked to speak on, our discussion turns to FHA appraisals. What should I be on the lookout for?” “Do Do I need to make the repairs before listing the house?” “How